Verizon and Yahoo! Reportedly Nearing an Agreement on Price Cut for Deal

Verizon's purchase of Yahoo's core internet arm was put in doubt previous year after disclosure of two cyber attacks. Following this new deal, it is likely that Verizon will also share some legal burden with Yahoo over their security breaches, giving Yahoo some breathing space. More than 500 million accounts were affected.

The country's largest wireless carrier announced a year ago it planned to acquire Yahoo's core business for $4.83 billion.

Following reports of a revised deal, Yahoo's stock jumped $0.57 (1.27%) to $45.59 early Wednesday afternoon, while Verizon slipped down $0.30 (0.61%) to $47.98.

George and Amal Clooney 'casually mentioned' their baby news to Julie Chen
There were many morphed photos all around the internet after the announcement of Amal's pregnancy. Don't you know the 12-week rule?' Like of course he doesn't.

7 killed in gunfight between Indian army and militants in Kashmir
The four terrorists who were killed by security forces in the Kulgam district of Jammu and Kashmir on Sunday were local residents. The killing of the civilians conjured a mixed response with the separatist leaders calling for a valley-wide strike.

Al Jarreau: Seven-time Grammy-winning jazz singer dies at 76
Multiple sources are reporting seven-time Grammy-winning Jazz musician Al Jarreau has died of unknown causes at the age of 76. Nicknamed the "Acrobat of Scat", Jarreau released more than 20 albums throughout his career, according to his website .

While Verizon executives have since said it would be evaluating the implications of the breach and the subsequent investigation, it was unclear whether Yahoo or Verizon was aware of the scope of either large-scale hacks before inking the acquisition deal. That was believed to be the biggest-ever data breach on record until December - when the company disclosed that data from more than 1 billion user accounts was stolen by an unknown party in 2013.

Verizon's telephone business is seeming dated these days, and Yahoo's business won't do much to change that. Yahoo did not immediately have a comment. Yahoo! said on 23 January that, following the leak disclosures, it would now take up to the second quarter for things to be finalised. While there was a lot of speculation about the attack and a lot of finger-pointing as well, there were reports that Verizon would seek a discount from Yahoo. AOL CEO Tim Armstrong will assume oversight of the combined AOL-Yahoo group.

Related news